Business Corpus: DocuSign Swings To A Quarterly Profit, Revenue Beats But Shares FallDocuSign on Wednesday reported second-quarter earnings and revenue that topped consensus estimates but shares in the maker of software that digitizes contract paperwork fell in late trading. The post DocuSign Swings To A Quarterly Profit, Revenue Beats But Shares Fall appeared first on Investor's Business Daily.

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DocuSign (DOCU) on Wednesday reported second-quarter earnings and revenue that topped consensus estimates, but shares in the maker of software that digitizes contract paperwork fell in after-hours trading.

The company said that adjusted earnings were 3 cents a share, swinging to a profit from a year earlier, with revenue rising 33% to $167 million, topping analyst estimates.

A year earlier as a private company, DocuSign said it had a 5-cent loss on sales of $125.5 million. Analysts expected DocuSign to report earnings of 1 cent a share on sales of $159.6 million for the period ended July 31.

For the current quarter, DocuSign said it expects revenue in a range of $172 million to $175 million, including about $3 million in sales from a recent acquisition. Analysts had projected revenue of $165 million. DocuSign on Aug. 1 acquired SpringCM for $220 million.

DocuSign A Hot IPO

DocuSign stock slipped 3.1% to 61.10 in after-hours trading in the stock market today.

The company's tools automate the electronic filing of contracts and digital certificates. Its software prepares agreements and certifies electronic signatures.

DocuSign said it added 25,000 customers in Q2, giving it 430,000 overall.

The software maker raised $629 million in its May initial public offering, with shares priced at $29. As of Wednesday's market close, DocuSign stock had shot up 119% since the IPO.

The company in July announced board changes, with chairman Keith Krach and founder Tom Gonser stepping down by Jan. 1, 2019. The company added to its board Steve Singh, chief executive of Docker, and Blake Irving, the former CEO of GoDaddy.

Rivals include Adobe Systems (ADBE) as well as startup HelloSign.

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The post DocuSign Swings To A Quarterly Profit, Revenue Beats But Shares Fall appeared first on Investor's Business Daily.